Cross River IRS To Buy 50 Okada For 11 Million

In Breaking News, Business, Business & Economy, Reports

By Jonathan Ugbal

The Cross River State Internal Revenue Service plans to purchase 50 motorcycles for the sum of N10.8 million. The service also plans to buy seven units of five horsepower Yamaha speed boats at N8 million.

To fund this, the service plans to generate N17.4 billion as revenue from earnings, sales, fines, fees, licenses and taxes.

But, its actual revenue between January to October 2018 stood at just N2.39 billion despite an estimated inflow of N13.37 billion by the service for that year.

These figures are contained in the 2019 Cross River State chart of accounts.

Governor Ben Ayade had presented the budget tagged “Qabalistic Densification” in February with the document remaining secret for months.

And, the document shows that the service had planned to spend N5 million for the same purpose in 2018.

Its actual expenditure for miscellaneous capital items showed that the Integrated Tax Admin System Software cost N16.69 million as against the N15 million appropriated for it in 2018. The 2019 appropriation was increased to N20 million.

The furnishing of tax offices is expected tp gulp N25 million which remains unchanged from the 2018 budget but with an actual expenditure of only N1.44 million.

Despite N10 million budgeted for the automation of the service in 2018 and 2019, the actual expenditure was N1.97 million.

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